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Main Advantages of Converting from Proprietorship to Private Limited Company

Be a Part of PM Modi's vision for Startup India and claim subsidies, register Patents & get on list of VCs / PE's for Funding

Limited Liability of each Shareholder (Owner) to the extent of capital, thus protect your personal assets.

Get easier Lending from Financial Institutions as Private Limited Companies are trusted forms of business.

Frequently Asked Questions

How much capital is required to start a private limited company?

You can start a Private Limited Company with any amount of capital. However, fee must be paid to the Government for issuing a minimum of shares worth Rs.1 lakh [Authorized Capital Fee] during the registration of the Company. There is no requirement to show proof of capital invested during the registration process.

What is the number of people required to incorporate a private limited company?

To incorporate a private limited company, a minimum of two people are required. A private limited company must have a minimum of two Directors and can have up to a maximum of fifteen Directors. A minimum of two shareholders and a maximum of up to 200 shareholders are allowed in a private limited company.

What is the number of people required to incorporate a private limited company?

To incorporate a private limited company, a minimum of two people are required. A private limited company must have a minimum of two Directors and can have up to a maximum of fifteen Directors. A minimum of two shareholders and a maximum of up to 200 shareholders are allowed in a private limited company.

Can NRIs / Foreign Nationals be a Director in a Private Limited Company?

Yes, a NRI or Foreign National can be a Director in a Private Limited Company after obtaining Director Identification Number. However, at least one Director on the Board of Directors must be a Resident of India.

What documents are required for registration?

Identity proof and address proof is mandatory for all the proposed Directors of the Company. PAN Card is mandatory for Indian Nationals. In addition, the landlord of the registered office premises must provide a No Objection Certificate for having the registered office in his/her premises and must submit his/her identity proof and address proof.

Is an office required to start a Private Limited Company?

An address in India where the registered office of the Company will be situated is required. The premises can be a commercial / industrial / residential where communication from the MCA will be received.

Do I have to be present in person to incorporate a Private Limited Company?

No, you will not have to be present at our office or appear at any office for the registration of a Private Limited Company. All the documents can be uploaded online.

How long does it take to incorporate a Company?

Legalwiz.in can incorporate a Private Limited Company for in 14-20 days. The time taken for registration will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy registration, please choose a unique name for your Company and ensure you have all the required documents prior to starting the registration process.

What are the statutory compliances required for a Private Limited Company?

A private limited company must hold a Board Meeting at least once in every 3 months. In addition to the Board Meetings, an Annual General Meeting must be conducted by the Private Limited Company, at least once every year.

More Questions?

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Conversion of a Proprietorship Firm into a Private Limited Company is known as Corporatisation. Converting a Proprietorship Firm into a Private Limited Company has many benefits like Limited Liability, Perpetual Succession, Transferability of shares, easy access to funds etc. We at LegalWiz.in provide online assistance to convert your proprietorship into a private limited company. Our qualified team of legal professionals, chartered accountants and company secretaries are always available to assist you with all the legal and administrative aspects of the registration, drafting and conversion of sole proprietorship to private limited company and post registration aspects that are required to be fulfilled to convert sole proprietorship to a private limited company. To change from sole proprietorship to private limited company you would be required to follow certain quick and easy steps and provide LegalWiz with the required documents and we would convert your sole proprietorship to private limited co. Subject matter experts are available on call or via email to answer your queries. We also provide a full spectrum of post conversion services related to SSI/MSME Registration, VAT / CST Registration, Service Tax Return Filing, TDS Return Filing, Trademark Registration, Trademark Objection, Trademark Assignment & Trademark Renewal, Copyright registration, Bookkeeping, Legal Drafting, Accounting, Import Export Code registration etc. We offer services through an online model and a network of trusted affiliates across all major cities in India including Mumbai, Delhi, Ahmedabad, Pune, Bangalore, Hyderabad, Vadodara, Kolkata, Chennai, Noida, Gurgaon, Surat, Rajkot and others.